Keefe, Bruyette & Woods Boosts Bankwell Financial Group (NASDAQ:BWFG) Price Target to $34.00

Bankwell Financial Group (NASDAQ:BWFG) had its price objective boosted by Keefe, Bruyette & Woods from $30.00 to $34.00 in a report published on Tuesday morning, Benzinga reports. The brokerage currently has an outperform rating on the bank’s stock.

Bankwell Financial Group Stock Performance

BWFG stock opened at $26.57 on Tuesday. The firm has a market cap of $209.90 million, a price-to-earnings ratio of 6.92 and a beta of 0.83. The firm has a 50-day simple moving average of $24.96 and a two-hundred day simple moving average of $25.29. Bankwell Financial Group has a one year low of $22.47 and a one year high of $30.83. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.07 and a current ratio of 1.07.

Bankwell Financial Group (NASDAQ:BWFG) last released its quarterly earnings results on Wednesday, July 24th. The bank reported $0.14 EPS for the quarter, beating the consensus estimate of $0.10 by $0.04. The business had revenue of $48.36 million during the quarter. Bankwell Financial Group had a net margin of 11.76% and a return on equity of 8.78%.

Bankwell Financial Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Monday, August 12th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.01%. The ex-dividend date is Monday, August 12th. Bankwell Financial Group’s payout ratio is currently 20.83%.

Insider Activity at Bankwell Financial Group

In related news, Director Lawrence B. Seidman acquired 2,040 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The stock was purchased at an average cost of $24.37 per share, with a total value of $49,714.80. Following the transaction, the director now directly owns 175,761 shares of the company’s stock, valued at approximately $4,283,295.57. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Bankwell Financial Group news, Director Lawrence B. Seidman purchased 2,040 shares of Bankwell Financial Group stock in a transaction on Tuesday, May 28th. The stock was bought at an average cost of $24.37 per share, with a total value of $49,714.80. Following the transaction, the director now owns 175,761 shares of the company’s stock, valued at approximately $4,283,295.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Christine Chivily sold 6,356 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $23.60, for a total transaction of $150,001.60. Following the transaction, the executive vice president now directly owns 15,348 shares of the company’s stock, valued at $362,212.80. The disclosure for this sale can be found here. In the last three months, insiders purchased 5,007 shares of company stock valued at $128,232 and sold 10,559 shares valued at $253,346. 19.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Bankwell Financial Group

A number of institutional investors have recently bought and sold shares of the business. GM Advisory Group LLC acquired a new stake in shares of Bankwell Financial Group during the 4th quarter worth approximately $2,480,000. Pacific Ridge Capital Partners LLC grew its stake in shares of Bankwell Financial Group by 28.1% during the 4th quarter. Pacific Ridge Capital Partners LLC now owns 134,940 shares of the bank’s stock worth $4,072,000 after purchasing an additional 29,616 shares during the period. Carl P. Sherr & Co. LLC acquired a new stake in shares of Bankwell Financial Group during the 4th quarter worth approximately $241,000. AJOVista LLC acquired a new stake in shares of Bankwell Financial Group during the 4th quarter worth approximately $67,000. Finally, Vanguard Group Inc. grew its stake in shares of Bankwell Financial Group by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 329,246 shares of the bank’s stock worth $8,541,000 after purchasing an additional 1,933 shares during the period. 35.80% of the stock is owned by hedge funds and other institutional investors.

Bankwell Financial Group Company Profile

Bankwell Financial Group, Inc operates as the bank holding company for Bankwell Bank that provides various banking services for individual and commercial customers. It offers various traditional depository products, including checking, savings, money market, and certificates of deposit. The company also provides first mortgage loans secured by one-to-four family owner occupied residential properties for personal use; home equity loans and home equity lines of credit secured by owner occupied one-to-four family residential properties; loans secured by commercial real estate, multi-family dwellings, owner-occupied commercial real estate, and investor-owned one-to-four family dwellings; commercial construction loans for commercial development projects, including apartment buildings and condominiums, as well as office buildings, retail, and other income producing properties; land loans; commercial business loans secured by assignments of corporate assets and personal guarantees of the business owners; loans to finance insurance premiums; overdraft lines of credit; and unsecured personal loans.